Name: 德州儀器為何押注 600 億美元在美國生產廉價芯片？ (Why Texas Instruments Is Betting $60 Billion On Making Cheap Chips In The U.S.)
Uploaded: 2025-09-02T00:28:01.000Z
Duration: 15 min 42 s

分詞構句

Rising up out of sprawling ranchland in North Texas, there's two giant new buildings.

在得克薩斯州北部無垠的牧場上，有兩座巨大的新建築拔地而起。

The first one in the distance is an operating clean room.

The one closer to us is the second factory that today is a shell.

離我們較近的是第二家工廠，如今已成為一個空殼。

And they're just the start of Texas Instruments' $60 billion seven-plant project, officially announced in July.

德州儀器於今年 7 月正式宣佈了耗資 600 億美元的七座工廠項目，而這些工廠僅僅是項目的開端。

This site, long term, will produce hundreds of millions of chips every day.

從長遠來看，該基地每天將生產數以億計的芯片。

Texas Instruments is making a big bet that companies will want to make a lot of chips on U.S. soil.

德州儀器公司（Texas Instruments）下了很大的賭注，希望各家公司能在美國本土生產大量芯片。

And in August, Apple made a big new commitment to do, in part, just that.

今年 8 月，蘋果公司做出了一項新的重大承諾，在一定程度上就是要做到這一點。

Amidst Trump's new promise of a 100 percent tariff on chips from companies that are not making in the U.S.

特朗普承諾對非美國本土生產的芯片公司徵收 100% 的關稅。

Apple is leading the creation of an end-to-end silicon supply chain right here in America.

蘋果公司正在美國本土牽頭創建端到端硅供應鏈。

In Texas, we're working with manufacturers like Texas Instruments, Global Wafers America.

在德克薩斯州，我們與德州儀器、美國環球晶圓等製造商合作。

Apple has committed to making critical foundational chips for iPhones and other devices at TI's new fabs and to supporting tool installations to make it happen, something we got to see in action in Sherman, Texas.

蘋果公司已承諾在德州儀器的新工廠為 iPhone 和其他設備生產關鍵的基礎芯片，併為實現這一目標提供工具安裝支持，我們在德克薩斯州謝爾曼親眼目睹了這一切。

We are the first ever media to get inside this massive factory in North Texas.

我們是有史以來第一家進入北德克薩斯州這家大型工廠的媒體。

The whole campus is going to be bigger than 70 football fields or two Empire State buildings laid side by side.

整個校園將比 70 個足球場或兩座並排的帝國大廈還要大。

Though Texas Instruments doesn't make the world's most advanced chips, championed by the likes of TSMC and Samsung, its essential components are everywhere in smartphones, cars and data centers powering generative AI with big customers like Nvidia, Ford, Medtronic and SpaceX.

雖然德州儀器並不製造臺積電和三星等公司所倡導的世界上最先進的芯片，但它的基本元件在智能手機、汽車和數據中心中隨處可見，為 Nvidia、福特、美敦力和 SpaceX 等大客戶的人工智能提供動力。

Still, in July, TI shares plummeted amidst tariff concerns after its latest earnings report, although they've bounced back some since.

不過，今年 7 月，德州儀器的股價在最新財報發佈後因關稅問題而暴跌，不過之後又有所反彈。

The worries there in customers, like in the wake of tariff uncertainty, they don't know what to expect.

客戶的擔憂就像關稅不確定性之後，他們不知道會發生什麼。

Which has some asking, will future demand be strong enough for TI's huge spend to pay off?

有人不禁要問，未來的需求是否足以讓德州儀器的鉅額投資得到回報？

It's building four fabs here in Sherman, one outside Dallas and two in Lehigh, Utah.

該公司正在謝爾曼、達拉斯郊外和猶他州萊希建造四座工廠。

We would have more than 5X of the capacity that we have today when all of these fabs build out. 5X is a lot.

當這些晶圓廠全部建成後，我們的產能將是現在的 5 倍以上。5 倍是一個很大的數字。

Do you think the market is going to need all that?

You know, when you think about the semiconductor content growth, it continues to grow.

要知道，半導體內容的增長還在繼續。

We went to Sherman for this never-before-seen look inside Texas Instruments' newest fab and to ask top leaders why, despite tariffs and decreased market share, this huge investment makes sense now.

我們來到謝爾曼，以前所未見的方式參觀了德州儀器最新的工廠，並向高層領導請教了為什麼在關稅和市場份額下降的情況下，這項鉅額投資現在仍有意義。

When we first visited the Sherman fab, SM1, two years ago, it was just a concrete shell.

兩年前，當我們第一次參觀謝爾曼工廠（SM1）時，它還只是一個混凝土外殼。

So we had to gown up in bunny suits to enter the operational fab, protecting the ultra-precise chipmaking process from our hair and skin particles.

是以，我們必須穿上兔子服才能進入操作工廠中的房間，以保護超精密的芯片製造過程不受頭髮和皮膚顆粒的影響。

So as the wafers come out of the little box, they're going into a very clean environment within each tool.

是以，當晶圓從小盒子中取出時，它們將進入每個工具內非常潔淨的環境中。

There's over 15 miles of this automated track.

Mike Hagerty has been with TI for 16 years.

Mike Hagerty 已在德州儀器工作了 16 年。

He showed us different tools and steps in the chipmaking process.

他向我們展示了芯片製作過程中的不同工具和步驟。

The equipment in this room is called CMP for chemical mechanical polish.

這個房間裡的設備被稱為 CMP，即化學機械拋光。

SM1 is currently in qualification, testing everything out before entering full production by the end of the year.

SM1 目前正處於鑑定階段，在年底投入全面生產之前，將對一切進行測試。

These tools are how our design become a reality on a wafer.

我們的設計就是通過這些工具在晶片上變成現實的。

And how many wafers are going through here?

Like, let's say in the 10 minutes we've been standing here.

比方說，在我們站在這裡的十分鐘裡。

They're processing hundreds of wafers every hour.

他們每小時要處理數百個晶片。

TI was originally founded in 1930 as Geophysical Service Incorporated for oil exploration and later military electronics.

德州儀器最初成立於 1930 年，當時名為地球物理服務公司，主要從事石油勘探，後來改名為軍用電子產品公司。

In 1951, it was reimagined by four Dallas engineers and given its new name, Texas Instruments.

1951 年，四位達拉斯工程師對其進行了重新設計，並將其命名為德州儀器。

Texas Instruments is not just the company that makes your graphing calculators.

德州儀器不僅僅是生產圖形計算器的公司。

It's actually responsible for the first ever integrated circuit more than 60 years ago.

事實上，60 多年前的第一塊集成電路就是由它製造的。

While TI does still make its ubiquitous graphing calculators, its defining moment came in 1958 when TI engineer Jack Kilby filed the first patent for an integrated circuit.

儘管 TI 仍在生產無處不在的圖形計算器，但其決定性的時刻出現在 1958 年，當時 TI 工程師傑克-基爾比（Jack Kilby）申請了第一項集成電路專利。

It paved the way for miniaturizing chips by building all the components of a circuit, not just the transistors, directly into a single piece of silicon.

它將電路的所有元件，而不僅僅是半導體，直接製作成一塊硅片，為芯片的微型化鋪平了道路。

And it's helped spawn really a pretty large industry and the electronics that we carry today.

它幫助催生了一個龐大的產業，以及我們今天所使用的電子產品。

With TI for 24 years, Muhammad Yunus now runs technology development and global manufacturing.

穆罕默德-尤努斯在德州儀器工作了 24 年，現在負責技術開發和全球生產。

Unlike the costly, bleeding edge 2 and 3 nanometer chips being pioneered by TSMC and Samsung, Yunus says TI's core business, analog and embedded chips, are made on cheaper legacy nodes, 45 to 130 nanometer.

與臺積電和三星率先推出的成本高昂的 2 納米和 3 納米尖端芯片不同，尤努斯表示，德州儀器的核心業務--模擬和嵌入式芯片--是在 45 納米到 130 納米的廉價傳統節點上製造的。

Which we believe is the sweet spot for analog and embedded because they provide the right performance, the power, the voltage that our portfolio needs.

我們認為這是模擬和嵌入式的最佳選擇，因為它們能提供我們的產品組合所需的適當性能、功率和電壓。

Analog chips process signals from the real world, like sound, light and pressure.

模擬芯片處理來自真實世界的信號，如聲音、光線和壓力。

Think the temperature on a thermostat or voltage on power management chips that keep electronics safe when plugged in.

想想恆溫器上的溫度或電源管理芯片上的電壓，它們能保證電子產品在插入電源時的安全。

Embedded chips, TI's other major silicon product, are signal processors and microcontrollers for operating everyday devices, like telling the toaster to ding, the dishwasher to end a cycle or anti-lock brakes to engage.

嵌入式芯片是德州儀器的另一種主要硅產品，是用於操作日常設備的信號處理器和微控制器，例如告訴烤麵包機叮噹作響、洗碗機結束循環或防抱死制動器啟動。

TI sells the majority of its chips to industrial and automotive customers.

德州儀器的大部分芯片銷售給工業和汽車客戶。

We tore down a Tesla Model 3 and to my surprise, they had among the most, if not the most, content of any chip supplier in the car.

我們拆卸了一輛特斯拉 Model 3，令我驚訝的是，在所有汽車芯片供應商中，他們的芯片內容最多，甚至是最多。

That's the foundational nature of the products that we build.

這就是我們製造的產品的基本性質。

We have over 100,000 customers and about 80,000 different products.

我們擁有 100,000 多家客戶和大約 80,000 種不同的產品。

We say that if you have anything that plugs into the wall or has a battery in it or has a cord in it, you probably carry more than one TI chip in it.

我們說，如果你有任何插在牆上、裝有電池或有電線的東西，你可能攜帶了不止一個 TI 芯片。

Another pioneering moment came in 2009, when TI opened the world's first 300-millimeter fab for analog chips, repurposing a memory fab after DRAM maker Kumanda went bankrupt in the financial crisis.

另一個開創性時刻出現在 2009 年，德州儀器在 DRAM 製造商 Kumanda 於金融危機中破產後，重新利用一座存儲器工廠，建立了全球首座 300 毫米模擬芯片工廠。

And people were like, wow, they're making this lagging edge technology on leading edge 300-millimeter fab.

人們會想，哇，他們竟然在領先的 300 毫米晶圓廠上製造這種落後的技術。

But that's what really was the catalyst for TI to have such a cost advantage.

但這才是 TI 擁有如此成本優勢的真正催化劑。

A 300-millimeter wafer has about 2.3 times more chips in it versus a 200-millimeter wafer.

300 毫米晶圓中的芯片數量是 200 毫米晶圓的 2.3 倍。

And, you know, you get tremendous cost efficiency.

而且，你知道，你還能獲得巨大的成本效益。

Have other analog companies followed suit and now make on 300-millimeter compared to 200?

其他模擬公司是否也效仿了這一做法，從 200 毫米改為 300 毫米？

There are a few, I would say, but there are very few companies who design, develop the technology and manufacture semiconductor, the whole value chain, that do it in 300-millimeter.

我可以說有幾家公司，但在 300 毫米範圍內設計、開發技術和製造半導體的整個價值鏈中，這樣的公司很少。

And that's the other end of the scale that we do today.

這就是我們今天所做工作的另一端。

TI's been closing and selling off some of its 200-millimeter fabs, making way for the 300-millimeter wafers that all seven new fabs will pump out.

德州儀器一直在關閉和出售部分 200 毫米晶圓廠，為所有七個新晶圓廠將生產的 300 毫米晶圓讓路。

They win not because they have like 100 percent share of any one thing.

他們獲勝並不是因為他們在任何一件事情上都擁有百分之百的份額。

It's that they are the one who, you know, opens their jacket like, hey, I have this, I have this, I can offer you all this stuff, right?

是他們，你知道，打開他們的外套，就像，嘿，我有這個，我有這個，我可以給你提供所有這些東西，對嗎？

TI says it's the country's biggest analog and embedded semiconductor manufacturer.

德州儀器稱，它是美國最大的模擬和嵌入式半導體制造商。

It sells tens of billions of chips each year, but they're cheap, especially compared to the CPUs and GPUs sold by giants like NVIDIA.

它每年銷售數百億顆芯片，但這些芯片價格低廉，尤其是與英偉達（NVIDIA）等巨頭銷售的 CPU 和 GPU 相比。

NVIDIA sells one GPU for $35,000 and they're selling a part for, you know, 40 cents.

英偉達™（NVIDIA®）一個 GPU 的售價為 35,000 美元，而他們賣一個零件的價格，你知道的，只有 40 美分。

TI's affordable chips do play critical supporting roles for AI.

德州儀器的經濟型芯片確實為人工智能發揮了重要的支持作用。

In a new partnership with NVIDIA, for example, TI is developing a new type of chip to drive efficiency in power-hungry data centers.

例如，在與英偉達（NVIDIA）的新合作中，德州儀器正在開發一種新型芯片，以提高耗電數據中心的效率。

The amount of chips that go around the GPU to power it and, you know, the signal chain chips that go around it, there are quite a few of them in an AI system.

為 GPU 提供動力的芯片數量，以及圍繞 GPU 的信號鏈芯片數量，在人工智能系統中都不在少數。

But in 2020, it was the auto and industrial industries that suffered when TI was hit hard by the chip shortage, unable to keep up with customer demand.

但在 2020 年，當德州儀器因芯片短缺而無法滿足客戶需求時，汽車和工業行業卻遭受了重創。

Everyone was like yelling and screaming about TI and saying, look, you don't like, you're the poster child.

每個人都對 TI 大喊大叫，說 "聽著，你不喜歡，你是海報上的孩子"。

I have to shut down my factory because I can't get your 40 cent part.

我不得不關閉我的工廠，因為我買不到你那 40 美分的零件。

TI's market share of analog industry revenue fell off a cliff.

德州儀器在模擬行業收入中所佔的市場份額斷崖式下跌。

And their response has been, we're going to go out and we're going to build a bunch of factories.

他們的反應是，我們要走出去，我們要建一堆工廠。

We're going to make sure that capacity is never going to cause us a problem.

我們要確保容量永遠不會給我們帶來問題。

In July, TI shares plunged over concerns about what tariffs mean for demand.

7 月，由於擔心關稅對需求的影響，德州儀器股價暴跌。

Although they have bounced back some since.

There's a pull forward of demand, trying to get purchases in front of potential tariffs.

有一種需求拉動，試圖在潛在的關稅前進行採購。

And I do think we're seeing some of that.

我認為我們確實看到了一些這樣的情況。

It's one reason I've been a little more lukewarm on the broader analog space.

這也是我一直對更廣泛的模擬空間持冷淡態度的原因之一。

但並非所有人都對此感到擔憂。

I would position them as more of a tariff winner than a tariff loser.

我會把它們定位為關稅贏家，而不是關稅輸家。

If you're one of TI's competitors and you're using a foundry, let's say, and the foundry probably is in Taiwan.

如果你是德州儀器的競爭對手之一，你正在使用一家代工廠，比方說，這家代工廠可能在臺灣。

That chip is going to be more expensive than the same chip that TI will make because TI is making it in the U.S.

這種芯片將比德州儀器生產的同類芯片更貴，因為德州儀器是在美國生產這種芯片的。

But despite its name and about 75 percent of CapEx here in the U.S., Texas Instruments is not only making chips domestically.

儘管德州儀器的名稱和大約 75% 的資本支出都在美國，但它並不只是在國內生產芯片。

It also makes chips at four fabs abroad, in Germany, Japan and China, and does testing and assembly in Mexico, Taiwan, the Philippines and Malaysia, where it's spending some $3 billion on two new sites, one of which is now in production.

它還在德國、日本和中國的四個海外工廠生產芯片，並在墨西哥、臺灣、菲律賓和馬來西亞進行測試和組裝。

As for international sales, about 60 percent of revenue actually comes from customers based outside the U.S.

在國際銷售方面，約 60% 的收入實際上來自美國以外的客戶。

China alone accounts for 20 percent, which exposes TI to geopolitical tensions and tariffs China is imposing on U.S. goods.

僅中國就佔了 20%，這使 TI 面臨地緣政治緊張局勢和中國對美國商品徵收關稅的風險。

They have some wafer fab capacity actually in China, so they can offset some of that.

實際上，他們在中國也有一些晶圓廠產能，是以可以抵消部分產能。

Tariffs is a dynamic situation right now.